Question

what are the risk and benefits of biotechnology industry? Also describe the PESTEL analysis of biotechnology ? history and definition.... 20 points

Answer 1

Definition of Biotechnology :

It is nearly as old as humanity itself. You can thank our distant ancestors for kickstarting the agricultural revolution, using artificial selection for crops, livestock, and other domesticated animals. When Edward Jenner invented vaccines and when Alexander Fleming discovered antibiotics, they were harnessing the power of biotechnology. And, of course, modern civilization would hardly be imaginable without the fermentation processes that gave us beer, wine, and cheese!

When he coined the term in 1919, the agriculturalist Karl Ereky described ‘biotechnology’ as “all lines of work by which products are produced from raw materials with the aid of living things.” In modern biotechnology, researchers modify DNA and proteins to shape the capabilities of living cells, plants, and animals into something useful for humans. Biotechnologists do this by sequencing or reading, the DNA found in nature, and then manipulating it in a test tube – or, more recently, inside of living cells.

The most exciting biotechnology advances of recent times are occurring at the microscopic level (and smaller!) within the membranes of cells. After decades of basic research into decoding the chemical and genetic makeup of cells, biologists in the mid-20th century launched what would become a multi-decade flurry of research and breakthroughs. Their work has brought us the powerful cellular tools at biotechnologists’ disposal today. In the coming decades, scientists will use the tools of biotechnology to manipulate cells with increasing control, from precision editing of DNA to synthesizing entire genomes from their basic chemical building blocks. These cells could go on to become bomb-sniffing plants, miracle cancer drugs, or ‘de-extinct’ wooly mammoths. And biotechnology may be a crucial ally in the fight against climate change.

Risks:

There is a considerable risk that the introduction of agricultural biotechnology could lead to increased inequality of income and wealth. In such a case, larger farmers are likely to capture most of the benefits through early adoption of technology, expanded production, and reduced unit costs.

Growing concentration among companies engaged in agricultural biotechnology research may lead to reduced competition, monopoly or oligopoly profits, exploitation of small farmers and consumers, and extraction of special favors from governments.

Effective antitrust legislation and enforcement institutions are needed, particularly in small developing countries where one or only a few seed companies operate. Global standards regarding industrial concentration must also be developed; international public policies in this area have not kept pace with economic globalization.

Effective legislation is also required to enforce IPRs, including those of farmers to germplasm, along the lines agreed to within the WTO and the Convention on Biological Diversity. Ethical questions. A major ethical concern is that genetic engineering and “life patents” accelerate the reduction of plants, animals, and micro-organisms to mere commercial commodities, bereft of any sacred character.

This is far from a trivial consideration. However, all agricultural activities constitute human intervention into natural systems and processes, and all efforts to improve crops and livestock involve a degree of genetic manipulation. Continued human survival depends on precisely such interventions.

Potential Benefits:

There are many potential benefits for poor people in developing countries. Biotechnology may help achieve the productivity gains needed to feed a growing global population, introduce resistance to pests and diseases without costly purchased inputs, heighten crops’ tolerance to adverse weather and soil conditions, improve the nutritional value of some foods, and enhance the durability of products during harvesting or shipping. New crop varieties and bio-control agents may reduce reliance on pesticides, thereby reducing farmers’ crop protection costs and benefiting both the environment and public health.

Biotechnology research could aid the development of drought-tolerant maize and insect-resistant cassava, to the benefit of small farmers and poor consumers. Research on genetic modification to achieve appropriate weed control can increase farm incomes and reduce the time women farmers spend weeding, allowing more time for the childcare that is essential for good nutrition.

Biotechnology may offer cost-effective solutions to micronutrient malnutrition, such as vitamin A- and iron-rich crops. The research focused on how to reduce the need for inputs and increase the efficiency of input use could lead to the development of crops that use water more efficiently and extract phosphate from the soil more effectively. The development of cereal plants capable of capturing nitrogen from the air could contribute greatly to plant nutrition, helping poor farmers who often cannot afford fertilizers.

By raising productivity in food production, agricultural biotechnology could help further reduce the need to cultivate new lands and help conserve biodiversity and protect fragile ecosystems. Productivity gains could have the same poverty-reducing impact as those of the Green Revolution if the appropriate policies are in place.